Trump loudly claims that Powell has the ability to boost US economic growth by 15% and once again attacks Powell

Feb. 10 Former President Trump said his Fed chair nominee Kevin Wash could push the U.S. economy to grow as much as 15%—a claim widely viewed as overly optimistic by the public, underscoring that Wash would face heavy political and policy pressure if confirmed. In a Fox Business Network interview, Trump noted Wash was his "second choice" for the role, bluntly calling Jerome Powell’s past appointment "a big mistake." He added that if Wash "performs up to his potential," the U.S. economy could hit 15% growth—or more. Trump did not specify which metric the growth target refers to, however. For context: The U.S. economy is projected to grow ~2.4% this year, with a 50-year average annual growth rate of ~2.8%. U.S. GDP growth has rarely topped 15% historically. Trump has repeatedly said he wants the Fed chair to pursue more accommodative monetary policy, and stressed he wouldn’t have picked Wash if he backed rate hikes. The comments are also viewed as an effort by Trump to signal monetary policy-driven economic stimulus ahead of the midterms. Additionally, Trump’s comments suggest he’s unconcerned about inflation risks. Analysts note that growth near 15% typically comes with a sharp jump in inflation—and U.S. inflation is still high now.